Gold‚ silver prices increase

Nepali-Himalaya (Jan 17) Gold and silver became dearer this week as their prices shot up by Rs 1,100 and Rs 20 per tola, respectively, over the week — from January 11 to 16.

The market opened on Sunday with gold price fixed at Rs 52,200 per tola, which remained unchanged on Monday. The bullion price edged up by Rs 300 per tola to be fixed at Rs 52,500 per tola on Tuesday. The price of the yellow metal slumped by Rs 200 per tola on Wednesday and was traded at Rs 52,300 per tola. Posting a nominal loss of Rs 100, the price of gold stood at Rs 52,200 per tola on Thursday. The price of the precious yellow metal shot up by Rs 1,100 per tola in a single day to settle the week’s trading at Rs 53,300 per tola on Friday.

The recent hike in gold price has been attributed to the increase in its price in the international bullion market due to the Swiss Central Bank unexpectedly abandoning its three-year cap on the franc on Thursday. Likewise, the price of silver also increased by Rs 20 per tola during the six trading days of the week.

Silver was traded at Rs 700 per tola on Sunday — the first trading day of the week. The price of white metal remained unchanged on Monday. On Tuesday, the price of silver jumped by Rs 10 per tola to Rs 710 per tola and remained unchanged until Thursday. The price of the white metal posted another jump by Rs 10 per tola to settle the week’s trading at Rs 720 per tola on Friday -